Epic Housing Shortage Being Reported

The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.

The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.

Regarding Existing Home Inventory:

“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”

Regarding New Home Inventory:

“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”

Bottom Line

The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!  Give me a call to get started – J.P. Cook – 602-320-4253.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

2515 N 10th Street Phoenix, AZ 85006

$707,000

3 Beds

3 Baths

1,900 SqFt

Status Active

MLS # 6755891

Property Type Single Family Residence

Price Type --

Welcome to one of the most desired neighborhoods in phx. Two houses: One historic Spanish style home with Carriage Casita in back. Walking distance to restaurants, parks, and quick access to highways, Phoenix International Airport and all downtown has to offer (chase field, Footprint Center, bars, etc.), yet nestled in a quiet historic neighborhood with tons of character. Thoughfully remodeled to maintain the historic charm. Main house is 2bdrm 1 bath w/ 2 great patios and separate yard. Carriage house is a one bedroom, 1.5 baths with additional office space and private yard. Rent carriage house, air bnb or keep as additional guest house. $1900 of proven additional long term rental income for back carriage house. Potentially $2,500-$2700 mo. If you chose to

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21777 S 197th Street Queen Creek, AZ 85142

$706,995

3 Beds

2.5 Baths

2,500 SqFt

Status Active

MLS # 6693019

Property Type Single Family Residence

Price Type --

Welcome to West Park Estates! This open Cassandra home features 3 bedrooms, 2 and a half bathrooms as well as an oversized study. The kitchen has been fully upgraded and allows a luxurious view from the multi slide door to the rear covered patio. You will find upgraded interior selections throughout- Outside, you will discover a 3 car garage with an RV gate. All homes located within this community are single story. Home is currently under construction.

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22657 E Happy Road Queen Creek, AZ 85142

$706,889

4 Beds

3.5 Baths

3,077 SqFt

Status Active

MLS # 6733054

Property Type Single Family Residence

Price Type --

This is a brand new Quick Start Home under construction in Queen Creek, with a Desert Modern Elevation. The Mint plan includes 4 bedrooms, 3.5 baths, 4 car garage. Gourmet Kitchen appliances that include a gas cooktop with a built-in oven/microwave and dishwasher. Move-in anticipated for October/November. Included in the Emerald Collection are 10 foot ceilings, 8 foot interior doors and paver driveway and paver courtyard. Please ask about our special financing incentives with Mattamy Home Funding.

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573 E Citrus Hollow Way Queen Creek, AZ 85140

$706,228

2 Beds

2 Baths

1,928 SqFt

Status Active

MLS # 6567505

Property Type Single Family Residence

Price Type --

Indulge in the epitome of refined living with this exquisite 2 bed, den, 2 bath home, boasting over 1,900 sq. ft. of luxury and elegance. From the moment you step inside you'll notice this Nice plan has detail found throughout. The heart of the home is a culinary enthusiast's dream - a gourmet kitchen that exudes sophistication with its pristine white cabinets and an impressive array of high-end stainless steel appliances. Whether you're whipping up a quick breakfast or preparing a lavish feast, this kitchen is sure to inspire your inner chef. The thoughtfully upgraded baths elevate your daily routine to a spa-like experience, featuring tasteful finishes and modern fixtures. Imagine unwinding in the serene ambiance of your master bath after a long day. This home is ready for you!

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44533 N 44th Drive Phoenix, AZ 85087

Open House

$706,122

4 Beds

2.5 Baths

2,745 SqFt

Status Active

MLS # 6723527

Property Type Single Family Residence

Price Type --

This gorgeous split foor plan with entry courtyard boasts 4 bedrooms/2.5 baths. Gorgeous grey plank flooring with white cabinets, modern backsplash and quartz countertops. Open floor plan with retreat and flex room. Ready for move in. Must see!!

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2967 E Cherry Hill Drive Gilbert, AZ 85298

$705,990

5 Beds

3.5 Baths

2,938 SqFt

Status Active

MLS # 6746041

Property Type Single Family Residence

Price Type --

This two-story home features an open floor plan with an 8-ft. entry door and 9-ft. first floor ceilings. The spacious great room opens to a charming covered back patio, perfect for entertaining. The kitchen boasts a large center island, quartz countertops, a gorgeous tile backslash, and sleek KitchenAid® appliances. The first level includes an open den, powder room and bedroom with full bath. Moving upstairs, the spacious loft is the perfect spot for family movie nights. The primary suite boasts an expansive closet, and the primary bath features a walk-in shower, extended dual-sink vanity, and two linen closets. Please note: The photos displayed are of a model home and may not represent the actual property. Please verify specific features and details.

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13567 W Steed Ridge Road Peoria, AZ 85383

Open House

$705,982

4 Beds

3.5 Baths

2,952 SqFt

Status Active

MLS # 6738906

Property Type Single Family Residence

Price Type --

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3131 N Central Avenue Unit 5018 Phoenix, AZ 85012

Open House

$705,917

2 Beds

2 Baths

1,419 SqFt

Status Active

MLS # 6568565

Property Type Apartment

Price Type --

*Construction completed* 5% buyer incentive! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom+ den condo is one of the larger two bedroom floor plans and offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Spacious balcony to capture the amazing views while outside as well. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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23148 E Carriage Way Queen Creek, AZ 85142

$705,615

5 Beds

4 Baths

2,767 SqFt

Status Active

MLS # 6701318

Property Type Single Family Residence

Price Type --

BRIGHT GREAT ROOM, LOFT PLAN WITH MASTER DOWN, 5-BEDROOM, BEAUTIFUL FINISHES! SPA SHOWER IN MASTER, UPGRADED CABINETS, GRANITE KITCHEN TOPS W/ TILE BACKSPLASH, GOURMET KITCHEN LAYOUT, UPGRADED VANITIES IN BATHS, PLANK TILE FLOORING EVERYWHERE, EXCEPT BEDROOMS AND LOFT. ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

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27824 N 256th Avenue Wittmann, AZ 85361

$705,000

4 Beds

3 Baths

2,571 SqFt

Status Active

MLS # 6777584

Property Type Single Family Residence

Price Type --

Beautiful 4Bd/3Ba home. Modern white exterior paint and gorgeous low maintenance desert front landscaping. Tile throughout house with quartz countertop. Large open floor plan with plenty of cabinets and kitchen island. 50 solar panels on roof with lots of space on 1 acre lot for activities and horse corral in backyard. 220 volt at back SW corner block wall fencing with power along whole block wall. 17-foot RV gate on side.

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3798 E Latham Court Gilbert, AZ 85297

$705,000

4 Beds

3 Baths

3,070 SqFt

Status Active

MLS # 6661352

Property Type Single Family Residence

Price Type --

Final Price Reduction! Former Model Home, Original Owner, Pride of Ownership, Look No Further! Located on a Cul De Sac Street with N/S Exposure in the Wonderful Community of Coronado Ranch. This Property includes many upgrades including Granite Countertops, 2 Fireplaces, Upgraded Flooring, Stair Railing, Cabinets, Tile, Fixtures, Vaulted Ceilings, Paint, Large Master Bedroom with Walk in Closet, Kitchen with Walk in Pantry, Breakfast Nook, Dining Room, Family Room, French Doors, Surround Sound, Window Treatments and so many more. Home has Oversized 3 Car Garage and Courtyard with plenty of room for parking or for the kids to play. Outstanding Opportunity to Own this Wonderful Home!

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7537 N 83rd Drive Glendale, AZ 85305

$705,000

4 Beds

3.5 Baths

3,240 SqFt

Status Active

MLS # 6752114

Property Type Single Family Residence

Price Type --

Stunning single story home that's located in a gated community, Orangewood Ranch! Spacious home offers, 4 bedrooms plus activity room, 3.5 bathrooms, and an open den. Designer finishes throughout such as 42'' cabinets, upgraded flooring, stainless steel appliances, and granite countertops and fresh paint throughout. The open concept floor plan has a natural feel, with 10 ft ceilings and 8 ft tall doors. An entertainer's dream with a luxury 15 ft multi slide glass door in the living room leading to the patio for indoor-outdoor living. The oversized lot provides plenty of room for your imagination with lots of space to build a pool. Great location close to entertainment and shopping including Cardinals Stadium, WestGate, Desert Dimond, and ParkWest.

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